PayPal to pick up TIO for $233M

February 16, 2017

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Automation Software | Vancouver, Canada | Corporate Acquisition

PayPal (NASDAQ: PYPL) has agreed to acquire TIO Networks (TSXV: TNC) for C$3.35 (about $2.56) per share in cash, equating to approximately C$304 million (~$233 million) in equity value. That figure represents a 25% premium to TIO’s 90-day volume-weighted average as of Monday. The company is a provider of services related to cloud-based bill payment processing and receivables management.